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[Ferro-Alloys.com] The steel industry was affected by the virus in the first quarter of 2020, and the growth rate of production declined significantly. China's output of pig iron and crude steel was 199 million tons and 234 million tons respectively, up by 2.4% and 1.2% year-on-year, and the growth rate was down by  6.9% and 8.7% respectively compared with the same period of last year; in particular, the steel output was 267 million tons, down by 1.6% year-on-year, and it was up by 10.8% in the same period of last year.

The steel price also fallen significantly. In the first quarter, the average steel price index of China was 102.29 points, a decrease of 5% year-on-year; among them, the average price index of long material was 107.2 points, a decrease of 5.6% year-on-year, and the average price index of plate  was 99.3 points, a decrease of 4.5% year-on-year.

According to the statistics of China Iron and Steel Industry Association, in the first quarter, the operating revenue of key large and medium-sized iron and steel enterprises was 950.092 billion yuan, down by 5.31% year on year; the total profit was 18.322 billion yuan, down by 50.84% year on year.

Exports fell and imports grew. According to the statistics of China Customs, in the first quarter, 14.286 million tons of steel were exported, down by 16.0% year on year. The total volume of imported steel was 3.178 million tons, up by 9.7% year on year.

In the first quarter, China's  average iron ore price index was 327.2 points, up by 35 points year-on-year, or 12.0%, down by 3.7 points or 1.1% from December, 2019. (Translated by editor)

• [Editor:kangmingfei]